11126 Bonwood Rd, El Monte, CA 91733
6 Unit Apartment Building | $1,450,000 ($241,667/Unit) | 4.43% Cap Rate | El Monte, CA 91733
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $1,450,000
- Property Type
-
Multifamily
- Square Feet
- 5,102 SF
Listing Contacts
Jennie Leung
Verified Profile
- Property Info
Property Overview
Keller Williams Signature Realty presents 11126 Bonwood Ave., El Monte—a prime 6-unit investment in the thriving West San Gabriel Valley submarket. This two-story courtyard-style community, built in 1958, offers excellent curb appeal and stable cash flow. The property sits on a 6,367 sqft lot with a total building size of approximately 5,102 sqft, featuring six spacious two-bedroom, one-bathroom units averaging ±850 sqft each (buyer to verify).
The property includes a secured courtyard, a greenbelt front yard, six rear parking spots, and additional street parking. It is separately metered for gas and electricity, with central water heaters, and shares a laundry facility with an adjacent identical property. Investors can add a laundry room for additional income or possibly acquire the neighboring property to expand their portfolio. Seller will possibly offer Seller Carry Back. With 5 out of 6 tenants on month-to-month leases, there’s significant upside potential.
Most tenants have lived here for over a decade, fostering a strong sense of community. The property management and owner have maintained the property well.
El Monte has no local rent control ordinance which allows annual rent increases of up to 10% or 5% + CPI (per California AB1482). The location offers proximity to major shopping centers, restaurants, parks, and public transportation (El Monte Metrolink Station, bus terminal, etc.), with easy access to the 60, 10, and 605 freeways, making commuting convenient.
The property includes a secured courtyard, a greenbelt front yard, six rear parking spots, and additional street parking. It is separately metered for gas and electricity, with central water heaters, and shares a laundry facility with an adjacent identical property. Investors can add a laundry room for additional income or possibly acquire the neighboring property to expand their portfolio. Seller will possibly offer Seller Carry Back. With 5 out of 6 tenants on month-to-month leases, there’s significant upside potential.
Most tenants have lived here for over a decade, fostering a strong sense of community. The property management and owner have maintained the property well.
El Monte has no local rent control ordinance which allows annual rent increases of up to 10% or 5% + CPI (per California AB1482). The location offers proximity to major shopping centers, restaurants, parks, and public transportation (El Monte Metrolink Station, bus terminal, etc.), with easy access to the 60, 10, and 605 freeways, making commuting convenient.
Property Details
- Class
- C
- Year Built
- 1958
- Stories
- 2
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 6
Highlights
- No Local Rent Control
- 5 out of 6 lease is MTM ( Upside Potential)
- Opportunity to acquire the adjacent property
- 100% occupied with long term stable tenant
- 7 Gas, 7 Elasticity meter
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